Data Point - Low income does not mean poor - Granite Grok

Data Point – Low income does not mean poor

Federal Benefits for low income earners“It shows only some of the federally-funded financial supports available to an American who is a single parent, has two children and works full time at $8 an hour. While this worker has net earnings which bring in less than the federal poverty line, federal benefits intended to reduce poverty – do just that. The refundable Earned Income Tax Credit and the federal child tax credit bring her income over the poverty line. Add the food stamp benefits which she is eligible for, and the federally-funded portion of her public health insurance and this low wage worker has a work based compensation package that provides resources worth more than $30,000.

It is important to point out that I have not mentioned a critical ingredient that could provide even more help – the other parent. Child support collections of just $100 per month would add another $1,200 in annual income to this household; collections of $200 would add $2,400 in income.”

(H/T: AEideas)

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